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Porsche 911 Lease Questions

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Comments

  • kapkanimdkapkanimd Member Posts: 136
    Did you end up getting one? How'd you do? We are waiting to hear back from one dealer here to see if they want to make a deal tomorrow.
  • dalemadalema Member Posts: 91
    edited June 2013
    Yes! Picked it up this morning. Dark Metallic Blue - love it!

    Deal wise I think I did okay. It is just a coupe with PDK and various other options

    - residual 77% with 10,000 miles / year (would be 78% with manual)
    - MF 0.0020
    - sales price was 8.5% off MSRP / 3.5% over invoice (including the bank fee)
    - did the lease conquest so it ended up 1% over invoice
    - zero down (other than drive off cost) - only way to go

    Very happy with the car.

    Good luck!
  • kapkanimdkapkanimd Member Posts: 136
    that is a great deal, I was thinking 8% was pushing it. Now I know it's possible and this dealership seems pretty desperate. thanks!
  • fq1fq1 Member Posts: 56
    CONGRATULATIONS!!! Great car and a great deal!

    I have a few questions:

    1. Is it a C2S or C2?
    2. So, with the conquest cash, you got 11% off MSRP? And since the bank fee was included, which is about $900, you pretty much got 12% off?
    3. If you don't mind, would you share the MSRP of the car and your payment?
    4. Would you be able to share the name of the dealership?

    Thanks, and enjoy the beautiful car in good health!
  • dalemadalema Member Posts: 91
    Hi. It was a C2.

    I don't think you should be taking into account the lease conquest in determining a %age off MSRP when negotiating. That is a rebate between Porsche manufacturer and yourself (ie out of the control of the dealer). I negotiated without that element - and then at the end told them I would also be doing the lease conquest.

    Also, your 12% is a little off as I couldn't take the whole $1,500/mth for $4,500 total lease conquest as my former lease wasn't that expensive.

    In calculating payments etc. - I have a spreadsheet I use that I put together from my last lease - but I could recommend using the following in calculating lease payments:

    http://www.ridewithg.com/calculator/index.html

    Candy Beck of Niello Porsche in Rocklin, CA was very helpful throughout the process.

    Good luck!
  • ghstudioghstudio Member Posts: 972
    You can't include the money to pay off your current car in your calculations of price....that's very misleading. The question is, what did you wind up paying as an agreed upon price and what was the final deal monthly, residual, money down, etc.
  • dalemadalema Member Posts: 91
    I don't believe I said I was including that in my calculations - I was suggesting you shouldn't. That's why I shared where I ended up prior to that lease conquest if that is what you are referring to.
  • fq1fq1 Member Posts: 56
    I agree with Dalema, he did not include paying off his current car. I also don't believe the conquest requires paying off your other car, it is "conquest" that allows you to keep your current vehicle but get additional discount on the Porsche lease cap cost equivalent to 3 months worth of your previously leased vehicle's lease payment.
  • fq1fq1 Member Posts: 56
    Dalema, thank you so much for replying back. Your negotiation strategy is absolutely correct. In my case, my current vehicle's lease will get me an additional about $2000 off, which will translate into about 2%. Thanks again!
  • dalemadalema Member Posts: 91
    You're correct - the conquest doesn't mean you have to get out of your current lease. Depends on your situation I guess as to how much it actually impacts you economically.
  • kapkanimdkapkanimd Member Posts: 136
    Hey guys, I still cannot get a dealer to budge off of their jacked up MF...! Are y'all having to pull teeth for them to do it or are the dealers you go to just not jacking them up? They seemed like they might be willing to do 8%, but with the jacked up MF it is not a deal at all.
  • dalemadalema Member Posts: 91
    No teeth pulling from two of the dealers I talked to. Another dealer wanted to mark it up - so I just said thanks and moved on.
  • dalemadalema Member Posts: 91
    How did you go? Manage to work something out?
  • dalemadalema Member Posts: 91
    How did you go - any luck?
  • kapkanimdkapkanimd Member Posts: 136
    have a great deal worked out with a dealer that wont upcharge the MF, but having a problem with getting enough for my trade so the deal is on hold...
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dalema. I believe that the addition of PDK lowers Porsche's residual values.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gagasguy. You might be able to lock in the current lease program if you place your order by July 1st. If Porsche does not allow rate locks then you would have to use the lease program that is available at the time that you take delivery of your vehicle.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    This does sound like a good deal, dalema. Thanks for taking the time to share the details with everyone. Enjoy your new ride :shades: !

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • gagasguygagasguy Member Posts: 14
    Hi Car_man
    Thanks for the response. Dealer says I can't lock now. Since I want December delivery, order won't be placed until Aug or Sept, and I have to wait until then to lock. Anyone getting contrary info?
  • rw43210rw43210 Member Posts: 1
    I'll be ordering a 2014 911 C4S Cab in next few days and intend to lease it for 2 years/7500 mi per year. What are current residuals, MF and expected discount off MSRP? Thanks.
  • kapkanimdkapkanimd Member Posts: 136
    Does anyone have any more information on this $1,000 prepaid MasterCard incentive? I can only find it listed on aol autos here:

    http://autos.aol.com/cars-Porsche-911-2013-Carrera__2dr_Rear_wheel_Drive_Coupe/i- ncentives/

    No dealer has mentioned it yet, and I haven't heard any confirmation from anyone receiving it. Worth the shot if it is still good.
  • kapkanimdkapkanimd Member Posts: 136
    Hey guys, thanks for all the help. Put down a deposit on a 2013 C2 coupe thanks to the advice from here. MSRP 100,640, discount 8% + conquest (only $1,352) with $5k down in cash/trade equity covering fees and first mo. payment. Came out to $764/mo before tax ($817 for us Floridians). This is the 24mo lease with 7,500 miles using 78% (PDK rate) and .00200 MF.

    Car is Dark Blue with Grey interior and has Prem. Plus pkg, Bose pkg, multi fxn steering wheel, PDK, 14-way sport seats, PDLS, and SportTechno wheels..
  • dalemadalema Member Posts: 91
    Nice work - enjoy the ride (same color as my one - love it!)!

    Good to see you managed to work it all out for what you wanted.

    Have fun - puts a smile on my face every day :)
  • jackb0125jackb0125 Member Posts: 2
    Hi Carman,

    I'm looking at leasing a used 2012 911S cab that was originally sold in january 2012. I'm trying to figure out if the residual should be based on when the car was originally sold (which based on what I've read here for January 2012 would've been around 59% for a 36 mo 10k lease or 52% for a 48 mo 10k lease) or should it be based on something different related to the current date.

    Thanks in advance!
  • ron912ron912 Member Posts: 1
    Hi there, I am looking at getting a 2 year, 12,000 mile lease. From what I have read, the rates are as follows:

    MF: 0.002
    C2 with PDK Residual: 78%
    C2S with PDK Residual: 73%

    Also, my local dealer will not discount off MSRP for a 2013, has anybody got any experience or recommendations on buying out of state?

    Thanks!
  • phxryanphxryan Member Posts: 4
    Hi Ron912,

    I found that Daniel Lee with Park Place Porsche in Dallas was very agressive. Their customer service was awesome. I bought a 2013 Red C2 ($103,840 sticker) for $94,900 with conquest cash (7 series lease gave me $3228 off w conquest). They gave me the .002 mf and my residual was 75% for 27 months with 10k per year. I paid first month and $200 in fees down and ended up at $1010/mo before AZ sales tax of 8.95%. They arranged the shipping of my vehicle to my home in Scottsdale. Tell him Ryan from Scottsdale sent you. He's a nice guy. Good luck.
  • kapkanimdkapkanimd Member Posts: 136
    Not negotiating off of sticker is ridiculous, I wouldn't even get your oil changed there once you get one from somewhere else. As I mentioned before I got 8% off msrp without having to negotiate, another dealership said 6% off before we even walked in the door. Good luck, let us know how it goes.
  • kevin911kevin911 Member Posts: 22
    Agreed... ANY dealer should/can give you 5% off right off the bat. Even here in SoCal dealers are willing to work on price and most I have spoken with are very fair.

    I was about to lease a 911, but then had some things come up that have postponed my purchase. Was getting a great deal, but I think that the current lease program expired 7/1. Anybody know if the 911 lease described above is still valid?
    Kevin911
  • fq1fq1 Member Posts: 56
    I got 8.5% off plus an additional $2,400 off on an approx. 123.5k C2S on a lease the last day of June. MF was 0.002. The 27-mo residual resulted in about a $25/month lower payment than the 24-mo residual in my case. Did not have to bargain hard and did everything on the phone from a different state and everything went pretty smoothly. I can't say I got a killer deal, but got a pretty decent deal on a car that was very close to what I wanted options-wise.
  • dalemadalema Member Posts: 91
    Nice work - and sounds like a nice car! What did you option on it?

    I was going to do the 27 month but the SA convinced me not to due to paying the 3rd year registration. It does work out to the best lease payment though.

    Anyone knowmif porsche continued through with the same residuals, MF and lease conquest post June 30?
  • fq1fq1 Member Posts: 56
    edited July 2013
    Thanks! True about the third year registration but in my state it's only $80. Here is what my car has:

    Agate Grey
    PASM Sport Suspension
    PDK)
    Window trim high gloss Alum
    Porsche Dynamic Light System
    ParkAssist (rear)
    Sport Chrono Package
    Sunroof in glass
    Sport Design steering wheel
    Two-tone leather interior (Agate Grey/Pebble Grey)
    Model designation on doors
    Power Sport Seats (14-way)
    BOSE Audio Package
    Premium Package Plus
    Online Services
    Clear glass tail lights
    Ornamental Porsche Crest

    The two cosmetic options that I like the most are the clear taillights and the two-tone interior. The clear taillights go really well with Agate Grey. The dealer also had a white with clear taillights but I was not very sure how well they went with white. I do like the car a lot and have already put 800 miles on it in three days :) .
  • speedwellspeedwell Member Posts: 6
    On June 30, I signed a 27 month lease for a 2013 C4S. During the negotiation, I checked with different dealers in various states and was quoted varying residual values for the same equipment. It was my understanding that residual is set by PFS and that no dealership has the ability to change them. Does anyone know 1) whether this is true 2) if PFS sets different residuals for different regions (e.g. Is the 27 month residual in Texas different than California) and 3) can someone post the residual table (if anyone has it) applicable on 6/30/13.

    At my insistence, the leasing manager showed me a printout of "PFS Program 991420" but refused to give me a copy or let me take a photo claiming that it was proprietary. Assuming what they showed me was valid and given the many numbers on the page and dealership's reluctance to show them, my eyes focused on what was relevant to my lease deal for 27 months: 68% for 12K, 71% for 10K and 72% for 7.5K. However, I noticed some earlier posts in this forum referencing higher residuals for same term and higher mileage. Can anyone clarify?
  • kapkanimdkapkanimd Member Posts: 136
    I have never heard of anyone changing residuals, but I guess anything is possible. They are set by PFS and as long as you are confident you know what you are doing they will usually fold and admit the real numbers. As far as earlier residual numbers, they can change every month. Just need someone to confirm what they are for July, but in general you cannot assume they are the same as last month
  • speedwellspeedwell Member Posts: 6
    Thanks for this. The story of my car actually just begins with the speculation about residuals. However, I thought it would be too much to include everything in one post.

    Does anyone know what should happen if the dealership agrees to terms with one residual and then claims that they misquoted the residual (even though it had been mutually agreed to multiple times in a long string of emails). This happened to me after an epic and oftentimes tense negotiation. Crazy but true story...

    I started the process toward the end of last month, at which time the dealership wanted to sell me a car but kept nickel and diming me on terms - first the negotiated price and then the MF. Even after I had sent them my best and final, they countered at which point I had enough. I emailed the salesperson the morning of 6/28 (Friday), writing that my terms were final and if they didn't agree by 5pm, I would pursue my Plan B (a Mercedes at an unaffiliated dealership). They conceded and the mutually agreed upon terms were 7.5% off MSRP, .0020 MF, 72% residual for 27 month lease @10000 miles/year.

    The day before I was scheduled to pick up the car, I received a call from the salesperson informing me that he had made a mistake and the 27 month residual for 10K/year was actually 71% not 72% and that they could still offer me the car but for 7500 miles/year instead of 10000. While a mistake like this is always possible, it seemed all to convenient for it to happen now given the tension during our negotiation. I expressed my displeasure to the salesperson and offered to "think about it" then hung up and immediately called PFS customer service only to be told that although my lease application had been processed and approved they did not have a record for me in their system yet (so they couldn't talk to me about anything). After trying several different lines of questioning, I was finally told even if they did have me set up in the system they still couldn't discuss residual with me since "the dealership was their customer and any information I wanted needed to be obtained from them". When I mentioned that a dealership that they had authorized to negotiate on their behalf could possibly be making a mistake that they might have to honor given the authority PFS had bestowed - they didn't seem to care and I was told that PFS gives dealerships the exclusive right to communicate residual terms.

    Less than thrilled with the circumstances, I went to the dealership the following day and signed the lease agreement including the following language handwritten on the lease form "Buyer's agreement predicated on prior mutual acceptance of different residual value for vehicle at end of lease term". When I handed it back to the lease manager, she told me that PFS would not accept it that way but if we executed a clean lease she was certain that PFS would hear me out. I chuckled and told her that the day before PFS had insisted to me that only the dealership could have that conversation with me and she was now saying the opposite. Against my better judgment, I signed the lease anyway knowing that I had a series of emails from the dealership proving my claim.

    I have the car and love it :D so giving it back wouldn't be my first choice. I've also checked with the State Attorney General's Office and was told that once dealership has "given the financial details of an agreement, under the Bushing Law they cannot change the terms" but the person I spoke with was unclear on whether an emailed term sheet qualified as a valid agreement and advised me to call back during normal business hours to speak with an attorney. Does anyone have any thoughts or opinions about the legality of what the dealer did and what might be a fair resolution?
  • gagasguygagasguy Member Posts: 14
    Does anyone know why the Payment Estimator function on the Porsche configuration site has been "unavailable" for several days, while the Build Your Porsche function is still operational? Thanks,
  • ghstudioghstudio Member Posts: 972
    I just asked my dealer for some numbers today, but unfortunately, not on the C4S. 2014 C4 2 years 10K 73% residual mf .0026. The C2s residual is 75% for the same period. Both are with PDK.

    My expectation would be to negotiate a 5% discount, although that will be harder until the 2013's are gone.

    I have heard nothing about any extra money on the 2013's or 2014's.

    If you consider a 2013, the C2 has a whopping 77% residual. The C4 residual is 73% and interestingly enough the C2S is 71%..

    Given the few (if any) changes in the 2014, the best deal (24 mos) is the base C2. If you want a CS2, you will save money getting a 2014.

    I'm sure they made a mistake somewhere, but that's what the manager told me.

    I thought all porsches had the same finance charge, currently .0026, but I just saw a post in the panamera section with a mf of .0016 on a three year lease. Lots of mysteries.

    Hopefully carman will clarify, if I was given bad info.
  • mp1512mp1512 Member Posts: 10
    Where is that CarMan?

    The Porsche Lease rates have gotten really hard to come by. I've been looking everywhere, can't find them...
  • jy22jy22 Member Posts: 9
    Agree. Been searching high and low. The 2013's are still around but less and less so.

    Still getting great 8-10% off MSRP but the MF - can't get below 0.00225. It seems the 0.00200 is hard to get now although we had seen them around according to the discussions here. The 0.00200 is still the base MF so perhaps the dealers are getting more resistant!
  • mp1512mp1512 Member Posts: 10
    Motor trend still shows the money factor at 200.

    They have all the information posted for the 13's.

    http://www.motortrend.com/cars/2013/porsche/911/

    i just don't know if these residuals are for 10K, 12K, or 15K. Do you?
  • fq1fq1 Member Posts: 56
    edited July 2013
    These are 15k mile residuals. Right now the sweet spot is the 27-month residual, which is 69% for 15k miles (for the PDK) and results in a payment about $25-30 lower than the 24-month.

    This is one of the best times to lease a 911 with high residuals and pretty good discounts available. You can lease a 110-120k C2S for about 1300-1400/month with nothing down other than first month, title and registration fees (with most states's tax included). A C2 is an even better deal as long as you can live with the lower power.
  • mp1512mp1512 Member Posts: 10
    Thanks. Still happy with yours? Trying to decide if I can give up my M5.
  • h2o5h2o5 Member Posts: 2
    Looking to purchase (order) a 2014 C4 in Washington DC metro area. What %age off of MSRP are dealers agreeing to. Thanks.
  • thedarkknight1thedarkknight1 Member Posts: 13
    edited August 2013
    Can anyone tell me the August MF and residual through PFS for a 2013 Carrera S PDK coupe based on 24 months, 10k miles per year? Thanks!
  • dinomandinoman Member Posts: 68
    Can anyone tell me the residual on the 2013 C2 cab pdk for 24 months 15k miles?
  • thedarkknight1thedarkknight1 Member Posts: 13
    Is the Car Man on vacation...or even worse.....furloughed??
  • mp1512mp1512 Member Posts: 10
    I was at the dealer today test driving a C2S Cab. They told me the July programs carried over.
  • thedarkknight1thedarkknight1 Member Posts: 13
    Thanks for the info!
  • mp1512mp1512 Member Posts: 10
    Just confirmed the programs are good through the end of September.
  • thedarkknight1thedarkknight1 Member Posts: 13
    Any idea what the MF and residuals are on the 2014 911 S Coupe PDK for 24 months/10k miles per year?
  • dinomandinoman Member Posts: 68
    I leased a 2013 c2 cab. 10% off MSRP, .002 MF, Residual 73% for 24 months/12k miles per year. I think it was a good deal.
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